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's pension benefits an cut those benefits, adopted a multimillion dollar tax cut for multinational corporation within that state. so the state is not impoverished. the state is choosing priorities that are different than the citizens have chosen by adopting a constitutional protection of pension benefits. >> woodruff: andrew biggs what about that, and what about the bigger picture here, that the blame, that if there is going to be pain, the pain should be spread, that it shouldn't be mainly or even in large part these people who have worked so hard for these cities. >> uh-huh. i suspect in the case of detroit, it's not going to be mainly or in large part on the pensioners, it going to be mostly on the bondholders who are going to get hit much more. i mean steve is right when he cites the average benefits people receive from pensions. that includes a lot of people who spent a few years in public employment and are getting very small benefits. if you are somebody who spent a full career working for the city of detroit, you would retire with a benefit equal of around two-thirds your f
the increase in consumption tax scheduled for april. >> translator: society will face confusion if wages fail to increase along with the rise in prices. >> dengo will also try to improve the working conditions for nonregular workers. it plans to encourage the introduction of rurals to help convert to full-time employees. members will submit their demands to their companies and management by february. >>> japanese officials are putting together a stimulus package to drive economic growth. they plan to spend about $53 billion to counter the impact of the planned consumption tax hike. the stimulus sets aside $10 billion for japanese firms for innovative drugs and smaller firms overseas. the package also includes about $3.2 in cash payments to people whose incomes are below a certain level and it earmarks about $1.5 billion to ease the financial burden for home buyers. the government will also spend $10 billion to accelerate the recovery in fukushima and other disaster-hit areas. officials plan to finalize the measures in coming weeks. they'll compile an extra budget by mid-december to carry out
in new york city, killing four people. >>> is something else ailing obamacare? >>> taxing online sales. the supreme court has its say. >>> federal investigators are now looking at the black boxes of a train that derailed in new york city on sunday. they want to know what caused the train to jump the tracks, killing four people and injuring dozens more. crews cleared the tracks so service could resume on one of the busiest train lines. jonathan, good afternoon. how are the cleanup efforts going right now? >> well, stephanie, i would say crews are on the final stretches of work, at least here on the scene they brought on a out a cadaver dog. they uprighted most of the cars at this point. this is the final car. if you can see through the bushes here you'll see that final car there. they were just able to upright with these large cranes that they've been using and they've been hauling the other cars away. in fact the one you've been looking at, the earlier video, this is the car that was just inches from the water, where near where the hudson and harl rivers meet. that fourth person found
involving an internet sales tax. amazon an overstock.com were appealing the online levy imposed in new york state. but it's a battle imposed with results. what does this mean for online shoppers? >> all i can think about with this story is taxes. this is what it tells us we know now that the price that online retailers get is probably going to go away because that differential is really about tax. they will now be on par with the brick and mortar retailers and they won't have that edge they've had. we'll probably see less showrooming where people go to a store, they look around and pull out their mobile phone and buy the item online. we're going to see a lot more bureaucracy, states find municipalities making it so hard, so complicated, they're going to be dealing with a very tangled tax web. >> the potential tax revenue, though, for manile of these states that they would lose is huge. >> that's why these states are saying i want amazon to collect taxes coming into products coming into our state. we need the revenue. >> especially after the financial crisis. >>
, attacking labor. everybody makes way too much money in detroit and that's the problem. low taxes. of course, we've got to cut taxes. but here's the catch. wi withholding state money from the city has helped crush the city of detroit. now, i don't know what city you live in. but let's just think about this. all of a sudden, your city, and you pay state taxes, you're not going to get any state funds anymore. oh, no, no, no. you live in who struck john usa. no, you don't get taxes anymore. the state legislature is holding the money from you so you have to suck it up. the numbers are pretty staggering. you've got deregulation of wall street, which has also hurt the pensions and when it came back, how much money did that go to the pension fund to help out oh? detroit lost roughly 300,000 jobs over the past 30 years. there is no way a city survives when it loses 90% of its manufacturing base. the tax base has eroded, along with public services and public safety. what's the result? people are getting the hell out of town. severe outmigration. and those who are staying there are getting stuck with
. >> it truly is. >> which is why taxes become an issue. we'll talk about that later in the show. indra petersons loves taxes. >> shopping to taxes, you just took me from here to there. >> she used to work with the irs before getting into weather. >> i'm not listening. just painful right now. let's talk about what's going on in the southeast. still talking about a wave of energy, cloudy, light showers. not a big deal into the southeast. temperatures look at this, they're amazing. we're still talking about temperatures into the 70s through atlanta, especially by tomorrow in through boston, temperatures right where they should, maybe a hint above normal. all of this is going to be changing thanks to a system out west. talk about snow. yes, we're talking about anywhere from wisconsin back through colorado. look at all these winter weather advisories. we know there is a change in store for us out on the east. of course as the system finally makes its way east. for today, 1 to 2 feet of snow, extending farther in through colorado and minnesota. we'll be looking at that as well. you can see t
lead to major changes in online shopping. it's all about how much tax you pay when you shop online. christine romans explains how this will affect your money. >> wolf, on the biggest online shopping day of the year, no less, the supreme court punting on the most important issue in retail right now. and that means millions of people may now have to pay state tax on their online purchases. now, states have been putting pressure on internet retailers to collect sales tax and amazon.com and overstock.com fought this effort with different results in different courts. it's a patchwork now of rulings and laws. now that the supreme court has decided not to the weigh in, states are likely to pursue the estimated $23 billion in uncollected sales taxes from web retailers. an increasing number of tats like new york have passed laws forcing internet-based retailers to collect taxes. amazon and overstock complained saying they don't have physical presence in that state. most retail analysts say the court is essentially ending a 20-year tradition of no sales tax on internet purchases. >> christin
for tax-free web shopping. and why you want to check your lottery tickets. wendy gillette has more. >> good morning, anne-marie. the cost of online shopping may be headed up as more states could start collecting sales taxes on internet purchases. this after the supreme court refused to get involved in state efforts to force online retailers to collect sales taxes from their customers. the case involved a lower court ruling in new york. it ruled that websites like amazon and overstock must pay sales tax the same way in-state businesses do. the supreme court decision came on what appears to be the busiest online shopping day of the year, cyber monday. early indications are that online sales yesterday were up 17.5% from last year. mobile devices accounted for nearly a third of all online shopping. >>> stocks in asia finished mostly lower amid key reports in the u.s. hong kong's hang seng's lost 0.5%. tokyo's nikkei gained 0.5% to its highest close in six years thanks to a weekend yen. the dow jones lost 77 points yesterday. the nasdaq composite finished the day down 13 points. >>> and
watchdog is noting potential problems come tax season. the inspector general says existing irs systems do not have the capability to detect fraud when it comes to the subsidies set up to help people buy insurance in the form of tax credits. administration officials say the irs aggressively safeguards its systems to combat fraud and that the health care system is no exception. >>> the results of actor paul walker's autopsy are expected to be released today. he and his friend were killed in a fiery and tragic car crash moments after this photo was taken of the "fast and furious" actor stepping into a 2005 red porsche. the autopsy would confirm it. investigators they they don't believe they were racing but speed is an issue of the crash. the production of "fast and furious" is on hold. we should mention universal pictures shares the same parent company as this network. >>> the piano man has a few more songs to play on that baby grand. billy joel will take up a monthly residence at madison square garden as the venue's first-ever music franchise. the legendary musician will play concert there
. with the smaller tax base, city leaders did not reduce the budget. under pressure from labor unions, they never reduced things like health benefits or bonuses. when the budget was in the red the borrowed. judge steven rhodes wondered out loud why this hadn't happened sooner as he made the historic ruling that detroit is eligible for chapter 9 bankruptcy. now pension, for more than 23,000 firefighters, police and other municipal employees are facing the potential of dramatic reductions. >> we're trying to be very thoughtful, measured and humane about what we have to do. what i can tell them is that the reality is there's not enough money to address the situation no matter what we do >> reporter: the american federation of state, county and municipal employees immediately filed a notification of appeal, noting that there is no insurance to act as a bock stop for city pensioners, they just lose money. also noting that judge rhodes determined the city did not bargain with pension representatives in good faith but there was no practical way to do so. >> we are disappointed with the fact that the jud
of a looming consumption tax hike and keep the economy expanding the government will raise the tax from five to eight percent in april the increase is expected to dampen demand. a job proposal for the stimulus at the side about ten billion dollars to help japanese firms compete internationally. the money will promote the development of innovative drugs and support the expansion of smaller firms overseas the package also includes about three point two billion dollars in cash payments to people whose incomes are below a certain level. and the earmarks about one and a half billion dollars to ease the financial burden for homebuyers. the government will also spend ten billion dollars to accelerate the recovery in the pre schumer and other disaster hit areas. officials plan to finalize the measures in coming weeks. i'll compile an extra budget by mid december to carry out the stimulus now let's get a check on the market. us stocks ended lower on monday after retail sales during the thanksgiving weekend fell from a year earlier the dow jones fell almost half a percent to end at sixteen thousand an
department watchdog is noted potential problems come tax season. the inspector general for tax administration says existing irs systems do not have the capability to detect fraud when it comes to the subsidies to help people buy insurance in the form of tax credits. the administration officials say the irs aggressively safeguards the systems to combat any fraud and as the affordable care act is no exception. >>> the result of paul walker's autopsy are expected to be released today. he and his friend were killed in a fiery and tragic car crash saturday just moments after this photo was taken at the fast and furious actor stepping inside a 2005 red porsche. walker said the actor was the passenger in that car. the autopsy is completed tuesday should officially confirm that. >>> investigatesors say they don't believe that walker and his friend were racing another car. speed is considered a factor in the crash. universal pictures said tuesday the production of "the fast and furious 7" is on hold. the company has not said how they might change the movie. it is die out july of next year. universal p
that affect all online shoppers. sales taxes and why you should be paying it. states lose $2 billion a year from uncollected tax from web users. the supreme court decided yesterday not to get involved in appeals from amazon.com and overstock.com. the court let ruling from internet retailers to collect sales taxes even if they have no physical presence in the state. do you follow me? the issue effectively ends tax-free online shopping for lots of people. brick and mortar people say they are at a disadvantage when they have to collect taxes and online do not. it's different from state-to-state and it's just been a real mess there but supreme court is not going to weigh in on this. i want to give you a quick peek at the markets. dow and the major markets all fell after the black friday results showed that consumers spent less than last year. gold stock fell as well. concerns about the fed withdrawing -- using a big pull-back in gold this year. the ten-year treasury climbed again. it means higher mortgage rates likely and higher rates for car loans and the like. krispy kreme had a very bad day.
new york times" editorialized, "the emphasis on cutting taxes and spending that began in the reagan years is a direct result of economic insecurity now. it has led, for spm, to education cuts that have harmed children in low-income school districts. reversing those decisions can still have an enormous impact." but under president obama, america's spending more money on education than any other nation in the world. also, taxes have been going up. and we have record debt. but the left wants more spending and even higher taxes. simply put, the big government spending machine has not helped the economy very much. but again, liberal theory trumps results. >> the idea that so many children are born into poverty in the wealthiest nation on earth is heartbreaking enough, but the idea that a child may never be able to escape that poverty because she lacks a decent education or health care or a community that views her future as their own? that should offend all of us. >> well, it certainly offends me. if children are not getting a good education or do not have proper health care, i'm offende
nothing with intiethsmentes, nothing with tax reform, nothing with -- just paying for some, you know, trying to lessi inen the effect sequestration. >> look at the different points on the board. at this point in the game, we'll take that, right? >> and then the other thing that i just wanted to mention in following up on our conversations is what's going on in china? my man. my man. for the democratic party, i'm with biden. did you see, they send him over to china, boom, done. send my man joe over there who is like yeah, yeah, pats a couple can people on the back, tells a couple of jokes, takes back a couple of things he said and everybody is friends. he does it here, too, but it's already fixed over there. >> we have joe on here. >> carries out the plan and -- blow hardy. you send joe over, boom, done, fixed. thanks, joe, .and then they go out to a club probably. i don't know. anyway, back to wall street's top stories this morning, the november november jobs report current nonfarm payroll, it's 180. do you know the number? you know the number? no, you don't know the number a lot. >>
.looking at tax they are also not looking at significant cuts to medicare, security,or social which are areas republicans say needs to be done. instead we are looking at pretty small things and haggling over whether to have federal employees attribute more to their retirement -- employees contribute more to their retirement plans. thingse also looking at -- a spectrum that is going to be sold to telephone companies. they are looking at a small budget deal that would replace some of the sequester, the automatic spending cuts that were launched in 2011 as part of a but -- part of a different budget process. like can't there right now? why can't there be a grand bargain right now? caller: because republicans and democrats can't agree. all ryan, the chairman of the budget committee, and patty murray decided they were not going to go after the towels of the other party and just try to get something that was possible -- after all these failed budget agreements in the past, look we are not even going to go there this time. we are going to go for something much smaller. host: talking with ian swanson
is traveling. >> enough not to pay taxes? >> no, no, i do pay taxes here. and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were doing it to try and increase entrepreneurial activity. i think the best way to do that is a capital gains tax, not income tax. so i think that was misplaced. and i think at a time when people were worried about inequality and equality, which was high on the political agenda, i think it was the wrong thing to do. >> it brings up a lot of issues about income equality. and we know the one thing that solved income equality is growth and jobs. growth and jobs. not entitlements, not redistribution, it's growth and jobs. and some of the efforts to do it the othe
the globetrotter's theme song ] >>> and tax your christmas tree. we're not kidding all r. all the appalls details. stay tuned. >>> and the family of a fallen veteran shocked to see his picture pop up on dating websites. how does that happen and can they fight back? our legal team is next. >>> welc. some quick headlines. a man trying to transport a 50-ton war machine loses control, not once, but twice. oregon state police say the vintage tank somehow slipped out of gear and rolled down a hill. don't you hate when that happens? when the driver tried to tow that machine it started rolling again. he was cited for reckless driving and criminal mischief. >>> google mail, known as gmail, letting you unsend messages but you have to be fast. theail feature you activate in the settings menu gives users a 30 second window to stop that message from sending. every time you send a message it pops up with a box with the message to undo. hanna? >> thank you. the family of this fallen soldier is furious. why? because somebody took staff sergeant matthew pachino's pictures off his memorial website and used them to
and find out why you may have to pay sales tax for everything you buy online and the fight over food and they are considering cutting subsidies to some of the world's poorest people. ♪ ♪ good morning and welcome back to al jazeera america and i'm thomas and coming up, in a moment the verdict in the terrifying attack on the director of a dance company of the russian ballet and let's see what temperatures we will see across the nation and here is metrologist nicole mitchell. >> i should apologize for it and don't shoot the messenger and it will be brutal in the north and billings and we pointed this out yesterday morning and i was saying it's 40, enjoy it while you have it, it has done nothing but go down since and during the day yesterday and now at 14. the temperatures will continue to go down today, not up, during the heat of the day so to speak so we will have single digits by later this afternoon. so this is what is happening, with the front coming in it's going to just keep funneling the cold air in so some of the temperatures that will be single digit today will be negative
concerns about a new health insurance tax. it's going to be taxing health insurance because that does the opposite of what we're trying to accomplish of making coverage more affordable and getting people into the system. >> robert, thank you so much for being with us. >> thank you very much. >> and tomorrow an msnbc exclusive. president obama and chris matthews. chris will interview the president for a special edition of the "hardball" college tour from american university. tune in thursday night at 7:00 and 11:00 eastern here on msnbc. >>> and was he asleep at the wheel? william rockefeller, who was at the controllers of the train that crashed in new york sunday, has told police he, quote, zoned out. he indicated to co-workers he may have nodded off before the train sped into a dangerous curve at 82 miles an hour, nearly three times the speed limit. >> that momentary lapse, he was not able to catch in time. by the time he did and he put the controller -- took the power off and went to emergency, it was too late. >> four people were killed, more than 60 injured. the ntsb has interview
. and also to the treasury department so that any appropriate tax credits can be submitted to the insurance company for appropriate information. >> so that interaction between the federal and your state had to work in order for people to make a successful purchase, is that right? >> that's correct. one of the things that connecticut has done, however, we reduced the number of service calls required by 50% up front because we've always wanted to be as self reliant as possible. >> now they're talking about the possibility of errors that go as far as people who think they've completed enrolled. are you worried of people showing up at the doctors after the first legal day after january 31st, and finding out they don't have healthcare insurance? >> we're actually not worried about that. we've been testing the 834 file transmissions with the health plans beginning last summer, and we're very confident that that will not happen or should not happen. >> do you also rely on the federal government to pay some of the credits towards full coverage that some of your connecticut citizens are eligible to
things could be dealt with retrotively. things relating to the tax code they will come back and take care of them as the year gets started but that's why people are calling things like the dairy cliff an important issue. $7 for a gallon of milk is something that americans will not be happy with and they are hope that they will come some sort of bills. >> congress is under fire, for not being very productive in the last year. >> reporter: that's right. it's being called the do-nothing congress from many quarters because of the small number of actual laws that they have been able to pass. we saw them push back today, a lot of blame getting thrown out around. and john boehner pointed the finger at democrats and the counterpoint from president obama and other democrats saying there needs to be more bipartisanship and the republicans are the cause of trouble here in washington. but a lot of issues have been on the table for a long time. the farm bill has been in talks for months and a couple of key issues keep getting in the way and republicans and democrats cannot agree on them. one example i
in the world has to do with banking and low taxes. >> all right, let's not change the subject. let's go on to whether or not education is something we ought to care abbut as a competitive -- something to help our competitor. >> there are other things we ought to care about more. we should have an environment that encourages immigrants to come to this country. to innovate. to succeed and to have second chances in life in case they fail the first time. that's more important to make sure they're at the same level. >> but that suggestion we just don't care about this issue, we should be able to walk and chew gum at the same time. and also want an education system that improves. the thing is, we know what you need to do to make it better. it's not spending $115,000 per head. it's having some school choice. having merit-based pay for teachers. and in general giving our kids a better environment especially in k through 12 where their instructors are inspiring them and learn these things. >> that's all true. but this isn't the key to national success. >> okay, brett, thank you. when we come bac
expired back in 1970. he's been ordered deported multiple times. the judge says omar obama pays his taxes and meets the requirements for a green card. during the hearing, omar obama testified, and i'm quoting him now, "i do have a nephew, he's the president of the united states." >>> when we come back, an estimated $10,000 in holiday donations allegedly stolen from the salvation army right here in the nation's capital, and the whole thing was caught on tape. you're going to find out how it happened. >>> and this year, santa could be delivering your christmas gifts with fighter jets on his tail. we have details of what the u.s. military is now planning. this was the hardest decision i've ever had to make. jim, i adore the pool at your hotel. anna, your hotels have wondrous waffle bars. ryan, your hotels' robes are fabulous. i have twelve of them. twelve? shhhh, i'm worth it& what i'm trying to say is, it's so hard to pick just one of you, so i'm choosing all of you with hotels.com. a loyalty program that requires no loyalty. plus members can win a free night every day only at hotels.com se
that applying for health insurance now is more like doing your income tax than going to the doctor. >> okay. >> what you need to gather is a lot of financial information. your last year's tax return. if you didn't have one, information about payroll, pay stubs, et cetera. >> and gather all this information before you go to healthcare.gov. >> yes. because you're going to need it to complete the application. the other wonderful piece of news that came out yesterday that no one seemed to notice is that for the very first time healthcare.gov has a shopping function, a browsing function. something it should have had from day one but it's now there and working. when you go on the home page, there's a little -- >> the little -- >> the little medallion on left, click on that, and you can enter some very simple information about yourself and see all of the plans available to you. >> without putting financial data, stuff in you may not want to. >> no financial data. it won't calculate whether or not you have a subsidy coming to you, but it will show you the plans available to you in your area with th
tax hike next april. industry groups say more than 457,000 vehicles were sold last month, up 16% year on year. honda's sales surged about 48%. nissan showed a gain of more than 15% and toyota 1.5%. officials of the japan automobile dealers association say sales increased as automakers rolled out new models. they predict that the uptrend is likely to continue for a while. >>> japan's minister for negotiating the transpacific partnership free trade pact has fallen ill. he was driving to seal a deal by year end, but officials say he's likely to stay in hospital for a few days. the economic revitalization minister felt unwell on monday at a crucial juncture for the talks. amari met michael froman on sunday. amari is also in charge of new economic measures. leaders hope to finalize this week. but chief cabinet secretary suga said trade negotiations will stay their course. he said amari will give instructions from hospital. ministers regrouped on saturday for more tpp talks. officials will decide if amari attends pending more information about his condition. >>> let's check on the markets n
will push a lot of this is that we're very dependent on property taxes in connecticut to support education. so beyond the education cost sharing dollars that the state distributes, everything else is basically tried to local property taxes. well, those base aren't growing anymore. so seem are actually being force -- so people are actually being forced to find ways to save money and to work together. and i think the folks that will lead this discussion are actually in the communities right now looking at how do you continue to support education when you're ground list isn't growing? it's going to drive some innovation. >> and as far as funding for education in connecticut, over say the next five years, does it look like it's going to be flat? it's going to be down? is it going to be up? >> i think that it's a little early to tell. you know, this has been the slowest recovery from a recession in the post-world war ii era. and i'm visiting you here in washington, but the folks in washington seem to put the brakes on the economy every six months or so, right? or even more often than that. so,
from power in a crusading years ago. the anti tax group enjoys a one hundred and in the middle part. inside muslim areas and milk and honey and sixties monday time he said an arrest warrant for treason has been issued against the protest media format deputy prime minister to take to survive and punishment for those convicted of treason includes the death penalty on life imprisonment. attacking the opposition side is responding strongly the latest round of confrontations has reached a level not seen since the unrest of two thousand and ten. and it's still a little sign of progress that's all from bangkok. i knew. one year ago nine people died after concrete slabs fell from the ceiling of this ensemble trouble in japan's yamaguchi prefecture experts say bolts holding the slams spring and attach the accident raised questions about maintenance of japan's aging infrastructure. friends or relatives of the victims gathered on monday near the site on the two expressway be prayed silently at eight o three am the time of the accident. the victims included young people on the way home from the
a set of policies. and that they have deemed to be most agreeable by all the nations. taken from tax grab from the vast untill around here. i've just sort of the negotiations can move forward. it is divided into the broad cup victories the first is the agreement on least developed countries this is a negotiation to facilitate the integration of least developed countries into the world economy. this has been mostly agreed upon the second is on trade facilitation is a deal to have the potential to whether trillion us dollars to the global economy is on its final stages. but the sticking point is to agricultural subsidy debate what they are still huge divide between developed countries that wants to lessen subsidies to create a free market. against the developing nations that doesn't want this because it will hugely in fact the food security for their people and the agricultu industry this is the sticking point in distracting to do ill the whole negotiation here in bali where the wto is in and do or die a meeting. the show david is still rather thin and it can make progress andy's pushu
and switzerland's success in the world has to do the banks and secrecy and low taxes. a country of about 20,000 people -- >> all right. let's not change the subject. let's go on to whether or not education is something we ought to care about as a competitive -- something to help our competitors. >> there are other things that we ought to care about more. we should have an environment that encourages immigrants to come to this country to innovate, to succeed and to have second chances in life in case they fail the first time. that's much more important than making sure that johnny at 15 is at the same level of those mighty lick ken stein generals in calculus. >> but that suggests that we don't care about this issue. we should be able to walk and chew gum at the same time. you can have of all those things and have an education system. we know what it takes to make it better. it's not spending $115,000 per head. it's having merit-based pay for teachers, having competition between teachers, and, in general, giving our kids a better environment, especially in k through 12 where their instructors
the warsaw headquarters of the european border control agency from tax the eu says the new system will help save the lives of refugees and catch criminals. the hopeful twentieth the east side of the main component of course it is to provide the network to monitor and organized crime and illegal immigration and migration of up to date all was that of course also to save the lives of people in distress at sea. he will self seed teams from the soybean seed of sealed them up and gone to bed. but critics say the system is more about turning away migrants than helping them it started operation on the eu southern and eastern borders. also on monday un human rights chief cannot be the day. she is growing evidence that lead in syrian government officials have committed crimes against humanity. she called on the international criminal court to open a probe into the country's civil war delay said responsibility for atrocities committed in the syrian conflict extended to the top echelons of government including president bush are outside germany's brewers started lobbying for the country's beer purity
of the economy. incomethan tackling inequality, he has focused on taxing some down. clearly, no easy answers when it comes to this issue. still, it is safe to say this will be a primary focus for the obama administration in the months ahead. back to you. >> united states military is facing more but it cuts. hagel announced today that 200 positions will be eliminated from the office of the secretary of defense, but he said there will not be a large number of immediate layoffs. reductions that i have announced today will occur through a process of natural attrition in order to minimize the impact on our workforce. if the department is forced to one steep sequestration cuts the order of $500 billion, we may need to implement additional reductions. hagel adds that cuts will save about $1 billion over time. coming up, the fed says factories are giving the u.s. economy a boost but the latest beige book data is out. we will look at what else is expanding when "bottom line" on bloomberg television continues in just a moment. ♪ collects welcome back. let's show you how the equity markets finished. stock
the information, how much they're going to pay, tax credits they may be eligible for, but the insurance companies are not getting the correct information. here is white house spokesman jay carney. >> we have instituted a number of fixes to the so-called 834 forms, that's the vehicle by which information is transmitted to the issuers. and we believe that the majority of fixes to 834 forms have been made including significant ones made over the weekend. we expect the info to be vastly improved. we'll continue to work with issuers to make sure whatever remaining problems exist are addressed and fixed. >> and given all of those problems that still exist, still yet to be fixed the administration officials still say between now and comparing it to october 1st two months ago is night and day. >> mike viqueira at the white house, thank you. >>> young people are crucial if the affordable care program is to work by purchasing coverage younger people will help offset costs of older people who rely on healthcare services. 37% of those questioned say they're unfamiliar with the affordable care act. that's mor
negotiations over a salary increase broke down. in argentine the government collects taxes and distributes to the opposition. it is collected by of the opposition, cristina fernandez de kirchner is accused of tolding the funds back. >> the arrival of argentine president cristina fernandez de kirchner had complained that her government denied appeals for reinforcements. and accused cristina fernandez de kirchner of shortchanging provinces. >> translation: there exists autonomy. public security is one of these. the matter has to do with salaries. >> the governor claimed the police walked off the jobs in retaliation for his decision to shut down more than 100 brothels paying off corrupt officers. the police began returning to work after they were offered salary increases and bonuses making then the best paid in the country. >> i want to tell the people that from this moment the police force returns to the service of the people of kordova. >> the governor vowed to travel to the capital to depend they stop playing politics with his money. >> the provincial grandfather ner blamed the violence. a
, doug. >> we had tools that have been very successful. earned income tax credit is great track record moving people from non-work to work. it could be reformed. right now misses too many single men who don't have children. there are things we can do. this would be a bad idea. i think christian's point about, it sounds like a good idea is worthying hard about because take the fast-food workers. suppose we raise their wages to $15. that is going to show up in higher fast-food prices and by and large consumers of those goods are lower income americans. and seems like a strange antipoverty policy to take money out-of-pocket one poor person to put night the another. i admire the passion but doesn't add up. jenna: christian, it is interesting, one of the arguments against raising minimum wage some of these fast-food joints will turn to automation. we have some photos from a few decades ago from the auto mat. put a quarter in and get a meal and, you know one of the questions would we go back in that direction. what do you think doug has to say, we would be investing in the wrong place? it is
is you are going to be able to a take the tax revenue that comes into the city of detroit and put it back into the services like police, the police department like the fire department and making sure the fire rigs are working when they are called out to a fire and picking up trash and making sure the lighting grid is up and running and working streetlights in the neighborhoods in the city of detroit, so what that is going to do, when you bring down the debt and you bring it, you erase it and you start with that clean slate you will be able to infuse money back into the city of detroit, back into the services and really make detroit a better place to live and that is the bottom line in in story. >> a big day, in the life of your city, detroit. christy mcdonald, we thank you very much. >> thanks, judy. >> >> woodruff: again, the other major developments of the day. president obama touted the benefits of the affordable care act in a bid to shift the focus from problems with healthcare.gov and policy cancellations. vice president biden arrived in japan and rebuked china for imposing an air de
don't care, we don't know. through higher premiums and taxes. at the time we are receiving care, we have this illusion that someone else is paying for t even if we try, do a diligent job of trying to understand what things cost, we get these pricing schedules which are incomprehensible. >> you have been out spoken on how it is the biggest driver of rising healthcareh health insurance premiums but the outrageous costs have been known for years. so why hasn't the outrage over this taken us anywhere? >> it's hard to understand. we used to -- we used to say that healthcare costs couldn't rise above 10% of gdp. people would be outraged. now, it's about 18% and seems like it's just going higher. i really think that the fundamental issue is that really, people have believed that someone else is paying for their healthcare raernling themselves. this is the great illusion of healthcare, that we are not paying for it. >> is that illusion going to get worse under alabamacare? the president is making a renewed push and stressing costs. let's listen to what he had to say. >> the website is worki
on tax reform. on some form of military discretionary cuts. this 1.2 trillion is painful and stupid and they want a way out of it. there's a lot of pressure on both sides. >> i say secret negotiations, good. i say them not talking about it, better. i think encouraging this process to continue, because this is the way they have to work down there, best. i say this is the most hopeful situation i've seen down there in 2 1/2 months. >> really? >> they're doing it the right way. they might not get to where they need to get to, and that happens but they're doing it the right way. >> the range of options is out there. the possibilities of how to cut the deficit, that's all been discussed over and over ad nauseam again. if we talk about spectrum sales one more time, i think people will start passing out. it's all about the political will. is the political will there this time? >> the calculation has been the pain will inspire political will. we haven't seen this before. every time people say it's going to be fine, we're not going to have a shutdown or play chicken with the fiscal cliff and
biden also voted for the largest tax increases in u.s. history. barack had 94 opportunities -- on the tax thing, i want to correct you on that again. and i want to let you know what i did as a mayor and as a governor. and i may not answer the questions that either the moderator or you want to hear, but i'm going to talk straight to the american people and let them know my track record also. >> you can see him, he's like, uh-oh, no. i guess the important thing, this does go to the idea that clearly, and this is from a cnn.com story, from back in 2008, clearly biden had been prepped specifically about running against a woman candidate and, in fact, in this story, no candidate for president or vice president in the history of the country has had more advice on what to say than senator biden had on his debate with senator palin. >> and he comported himself extremely well, because biden is not one to bite his tongue in any way, shape, or form. but i do think that for the republican party, again, this is going to be, especially with the tea party, and the tea party holds far more
. the population of detroit once the fourth largest city decline by 63%. the tax base erodes it was mismanaged and ends up like this. >> there are a number of other cities across the country that face shortfalls. do you think you'll see other cities starting to declare bankruptcy? >> i don't think it's anything anybody wants to do detroit's situation is particularly dire. but this is a noose that's tightening around city and state's necks for decades. and the recession pulled it tight. a pension plan is supposed to be 80% funded. there are 34 states in this country that are under that barometer. only one state, wisconsin, has a fully funded pension plan. you're looking at the numbers we are $1.3 trillion short in states of what we need. >> for retirees when you hear this, this is really scary. >> basically this is something we've had to confront for a long time and we're finally hit with it. but the truth is states can't pay this bill. and they're going to have to do something about it. they're starting to. illinois just yesterday passed legislation they're $100 billion i
down as the year of missed opportunities on immigration, tax reform budget. all issues leaders wanted to tack al at the start of the year. they had trouble funding the government and running out of time to pass critical legislation. american families could see milk prices spike to $7 a gallon if congress can't pass the farm bill by the end of the year. lawmakers are running out of type to set funding and policy for the pentagon next year. they still need to confirm janet yellen as the next federal chair before bernanke's term ends next month. it's no wonder one house committee chose to focus on a less invasive topic, space aliens. >> is there life out there? what do they think about new york city? >> reporter: congress has passed 56 bills in 2013 in the past 66 years only three other times that congress has passed less than 100 bills in a single year. many of the bills this congress passed were simply extensions of older laws that were set to expire. hope appears to be dwindling for the small deal between house and budget leaders that wanted to replace the federal s
that were in south africa, they paid their taxes to south africa and they deduct it from their tax liability here. we set that it was no deduction. we signed that as an effort to stop apartheid. and it passed. and i never thought i would ever see nelson mandela. when i saw him and people introduced me, he says, yes, i know him. they were trying to push me, saying he had the wrangle amendment, you know. and he says, oh, no, not the wrangle amendment. i thought, my god, here we go. he says, no, the white south africans call that the bloody wrangle amendment. and he said, i would suggest you get a -- >> there's that sense of humor. >> yes. he was a big giant. he was so warm, like a bear that would hug you and you fell apart no matter who you were or where you were. >> congressman, we have to say thank you for sharing these very personal stories of your time with nelson mandela. donna brazile, thank you as well, john king with wonderful mementos from that time as well. thank you to the three of you for sharing these significant memories you have of a great leader. >> fun to celebrate that life.
to get people signed up. >> that's when they might face the tax penalty. california is seeing early success. can that be replicated? >> we are seeing variation amongment states. there are 36 states that rely on the federal gough for healthcare.gov. all of these states doing their own exchanges, and some states have been very smart reaching out to young people, trying different techniques. that is starting to pay dividends. i think we're going to watch closely to see which states are winners and which are losers as this rolls out. hopefully, we can do everything we can to make sure that young people in all the states see the benefits. >> thank you. >> thanks for having me. >> despite deep discounts and longer store hours, holiday sales slumped, the decline the first since 2009. spending in stores and on line fell from last year. purchases in stores fell by 9%. about 141 million americans shopped in-stores or on line in the four day span. spending on line today is expected to smash records, though. that's even though many americans will be on the job. it's cyber monday, of course. a s
in the sector. >> you would be wrong. look at the second big number. $900 million. that's the amount of tax dollars spent supplementing the wages of bank bank tellers. a third of bank-tellers had to rely on assistance. >> last year tellers had a median salary of $24,100. that's about $11.39 an hour. >> welcome back to al jazeera america. >>> the obama administration is looking to undo the damage to the affordable care act's image done by the problems, of course, with the problem plagued website. in a moment we'll look at what the president needs to do during his campaign to accomplish that. >> first let's look at the temperatures across the nation. metrologist nicole mitchell is here. >> we have a contrast once we get to the southern plains today - going to the 20s or 30s. houston is at 71. this is where it's really gotten brutal. single-digit temperatures. adding in the wind. feels like 30 below. this is going to be a spreading sign over the weekend. the wind chills that are really brutal out there. the cold air will settle and over the next couple of days the warmer spots in the south - i
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